Mitt Romney at a campaign stop at USAA insurance company Wednesday in San Antonio, Texas.AP

President Obama speaks at a campaign event at the Regent Beverly Wilshire Hotel in California last night. (AP)

WASHINGTON — Mitt Romney and the Republican National Committee raised $76.8 million in May, besting the Obama campaign and Democratic National Committee’s $60 million joint total.

Romney and the RNC now have a combined $107 million cash on hand to spend on the fall election.

“We are encouraged by the financial support from a broad range of voters,” Romney National Finance Chairman Spencer Zwick said. “It is clear that people aren’t willing to buy into ‘hope & change’ again. Voters are making an investment because they believe that it will benefit the country.”

Meanwhile, Reince Priebus, the RNC Chairman said the May numbers were “a sign that Americans are tired of President Obama’s broken promises and want a change of direction in the White House.”

The campaign said 93 percent of its donors contributed $250 or less.

Earlier Thursday, President Barack Obama announced over Twitter his campaign and the DNC had raised $60 million in May from 572,000 donors. The campaign did not disclose how much cash it had on hand. It ended the month of April with $143 million.

In April, the Romney campaign raised $40.1 million in his first month as the presumptive Republican nominee, almost matching Obama’s $43.6 million haul.

“We assumed that he would outraise us in the first month of the general since this was the first full month the joint committee was in existence, allowing his core donors to write their max-out checks,” an Obama campaign official told ABC News, reacting to Romney’s numbers.

The president has been attending fundraisers at a torrid pace this week. On Monday he raised a reported $3.6 million at multiple events in New York City and on Thursday morning he was due to wrap up a two-day fundraising swing in California that was expected to bring in another $5 million to the campaign’s coffers.